Computing and Interpreting Return on Assets
Saunders. Inc., recently reported the following December 31 amounts in its financial statements (dollars in thousands):
Current Year | Prior Year |
|
Gross profit | $ 170 | $120 |
Net income | 80 | 40 |
Total assets | 1,000 | 900 |
Total shareholders, equity | 800 | 600 |
Compute return on assets for the current year. What does this ratio measure?
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